/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CALGARY, April 25 /CNW/ - Deepwell Energy Services Trust ("Deepwell" or
the "Trust") (TSX:DWL.UN) announces that it has received final regulatory
approval of its Distribution Reinvestment Plan (the "Plan"). The Plan, to the
extent that unitholders participate, will provide Deepwell with additional
cash for growth. The CEO, CFO and the Board of Directors, to the extent they
are eligible, currently intend to reinvest their monthly distributions through
participation in the Plan.
The Plan allows eligible unitholders of Deepwell to direct that their
cash distributions be reinvested in additional trust units. The cash
distributions will be reinvested at the discretion of Deepwell Energy Services
Ltd. either by acquiring trust units issued from treasury at 95% of the
Average Market Price (as defined in the Plan) or by acquiring trust units at
prevailing market rates.
Eligible registered unitholders who wish to enroll in the Plan, must fax
or otherwise deliver a properly completed and signed authorization form to
CIBC Mellon Trust Company, at the fax number or address specified in the form,
not later than 3:00 pm (Calgary time) on the fifth day immediately preceding a
distribution record date in order for the cash distribution to which such
record date relates to be reinvested under the Plan.
Beneficial unitholders (i.e., owners of trust units that are held through
a nominee such as a broker or custodian) who wish to participate in the Plan
should contact the broker, investment dealer, financial institution or other
nominee who holds their trust units to enquire about the applicable enrolment
deadline and to request enrolment in the Plan.
Unitholders should carefully read the complete text of the Plan before
making any decisions regarding their participation in the Plan. The Plan, an
introductory letter and the authorization form are available on Deepwell's
website at www.deepwellenergy.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction.
Additional information about the Trust is available at www.sedar.com and
on the Trust's website at www.deepwellenergy.com.
Certain statements in this press release constitute "forward looking"
statements that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of the
Trust or Deepwell LP, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by such
forward looking statements. Forward looking statements involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate indications of
whether or not such results will be achieved. A number of factors could cause
actual results to differ materially from the results discussed in the forward
looking statements. In particular, final regulatory approval of the Plan may
not be obtained.
For further information:
For further information: Deepwell Energy Services Trust, Tel: (403)
508-6000, Email: email@example.com, Robert Dodds, President and
CEO, Or: Scott Gerecke, Vice-President Finance and CFO